The Bank of Maharashtra has filed a placement document on June 6, 2023, for an issue of 350,877,192 equity shares to qualified institutional buyers approximately aggregating to ₹10,000 million.
J. Sagar Associates advised HDFC Bank Limited, BOB Capital Markets Limited, IDBI Capital Markets & Securities Limited, Motilal Oswal Investment Advisors Limited and Systematix Corporate Services Limited in relation to the qualified institutions placement by Bank of Maharashtra.
The Equity Capital Market Team that worked on this transaction are Arka Mookerjee (Lead Partner), Siddhartha Desai (Partner), Govind Roy (Associate) and Reshmi Prabhakar (Associate).
With the completion of this deal, JSA has successfully advised in the largest QIP by a bank in the last 18 months.
The Bank of Maharashtra is amongst the prominent public sector banks in the state of Maharashtra. It offers a diversified portfolio of banking products and services to corporate, retail, agriculture and micro, small and medium enterprise customers. BOM’s operations are internally aligned into distinct business lines pertaining to (i) wholesale banking operations, (ii) retail banking operations, (iii) treasury operations, and (iv) other banking operations.
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